So there are three 2BR units in pre-foreclosure in an apartment complex all being handled by the condominium associations attorney.

A courthouse (foreclosure) auction or something else?

The were purchased in bulk by a large investor from the banks after foreclosures.

Why pre-foreclosures?

I bought a Hud foreclosure and used my agent friend.

When the realtor finally put it on the MLS, they posted old pictures and with the status "foreclosure" , which was still from the time we got the property back via foreclosure.  

It gives two types of investors:- investors with much money, they are not worried if they buy some houses with low or negative cashflow, they look only to own this house/propertie and set tax write off´s- investors with few money, they are should worried if they buy these addressed houses/propertiesDon´t know your situation now, but if you the second investor type leave these properties well alone.You can lose much money and next distressed home is on market as foreclosure.

The foreclosure process in Texas is swift and you can also offer a DIL if they quit paying.

I am just getting into REI and have my eye on a few foreclosures which I would turn into rental properties.

I did my first foreclosure last summer.